S 1489
100th Congress
Senate
Taxation
Corporation taxes
Corporations and Stocks
Income tax
Investments
Mutual funds
Securities
Stocks
Tax deductions
A bill to amend section 67 of the Internal Revenue Code of 1986 to exempt certain publicly offered regulated investment companies from the disallowance of indirect deductions through pass-thru entities.
Introduced: July 14, 1987
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 1987
Read twice and referred to the Committee on Finance.
Jul 14, 1987
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to provide that the prohibition against indirect income tax deductions through pass-through entities shall not apply to any regulated investment company whose shares are: (1) continuously offered pursuant to a public offering; (2) regularly traded on an established securities market; or (3) held by or for at least 500 persons at all times during the taxable year.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1